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As well as its headquarters in Moodiesburn Devro also has a facility in Bellshill, Lanarkshire. It employs around 2,200 people around the world with plants in Nantong, China, plus South Carolina in the US, Bathurst in New South Wales, Australia, and Jilemnick in the Czech Republic and sales offices in Germany, Russia, Hong Kong, Japan and New Zealand.

A Devro spokesperson said: “We are re-organising our business globally and simplifying the way we work.

"This will mean letting go of a small proportion of Devro employees across all sites, and we will shortly be engaging with trade unions and work councils to ensure this is done fairly.

"The new structure allows us to re-prioritise resource allocation and reinvest in the business to support our strategic priorities.”

Devro shares closed at 175.2p.

Earlier this month Devro announced its chairman Gerard Hoetmer was to retire at the end of the annual meeting on 25 April 2019.

Hoetmer was appointed as a director in July 2013 and as chairman in May 2014.

In April in a statement ahead of its annual general meeting Devro said trading so far this year has been in line with expectations.

Although the firm said it was conscious of ongoing pressures from cost inflation and exchange rate volatility, it remains confident that it is well placed to make good progress in 2018.